Wedbush Issues Positive Estimate for Disc Medicine Earnings

Disc Medicine, Inc. (NASDAQ:IRON) – Equities researchers at Wedbush raised their FY2028 earnings estimates for Disc Medicine in a report issued on Tuesday, January 21st. Wedbush analyst D. Nierengarten now forecasts that the company will earn $7.51 per share for the year, up from their previous estimate of $7.04. Wedbush currently has a “Outperform” rating and a $90.00 target price on the stock. The consensus estimate for Disc Medicine’s current full-year earnings is ($4.07) per share. Wedbush also issued estimates for Disc Medicine’s FY2029 earnings at $12.05 EPS.

Disc Medicine (NASDAQ:IRON) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.89) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.04) by $0.15.

A number of other analysts also recently weighed in on IRON. HC Wainwright restated a “buy” rating and issued a $118.00 price objective on shares of Disc Medicine in a report on Tuesday. Jefferies Financial Group assumed coverage on Disc Medicine in a report on Wednesday, October 23rd. They issued a “buy” rating and a $89.00 price objective for the company. Morgan Stanley upgraded Disc Medicine from an “equal weight” rating to an “overweight” rating and set a $85.00 price objective for the company in a report on Tuesday, November 5th. Cantor Fitzgerald restated an “overweight” rating and issued a $85.00 price objective on shares of Disc Medicine in a report on Tuesday, October 15th. Finally, Scotiabank increased their price objective on Disc Medicine from $70.00 to $73.00 and gave the company a “sector outperform” rating in a report on Wednesday. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Disc Medicine has an average rating of “Buy” and a consensus price target of $88.50.

Disc Medicine Stock Performance

Shares of NASDAQ:IRON opened at $56.99 on Wednesday. The company has a market capitalization of $1.70 billion, a PE ratio of -14.32 and a beta of 0.75. Disc Medicine has a 52-week low of $25.60 and a 52-week high of $77.60. The company has a fifty day moving average of $62.66 and a 200-day moving average of $53.72.

Insider Transactions at Disc Medicine

In other news, insider William Jacob Savage sold 9,158 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $59.64, for a total transaction of $546,183.12. Following the transaction, the insider now owns 40,405 shares of the company’s stock, valued at $2,409,754.20. This represents a 18.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William Richard White sold 1,957 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $64.63, for a total transaction of $126,480.91. The disclosure for this sale can be found here. Insiders have sold 85,758 shares of company stock valued at $5,400,990 in the last 90 days. 4.24% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Disc Medicine

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP lifted its position in Disc Medicine by 4.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,840,226 shares of the company’s stock valued at $90,429,000 after acquiring an additional 83,731 shares in the last quarter. Frazier Life Sciences Management L.P. lifted its position in Disc Medicine by 123.5% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 1,754,834 shares of the company’s stock valued at $79,090,000 after acquiring an additional 969,834 shares in the last quarter. Deerfield Management Company L.P. Series C lifted its position in Disc Medicine by 53.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 1,023,265 shares of the company’s stock valued at $46,119,000 after acquiring an additional 357,730 shares in the last quarter. Logos Global Management LP bought a new position in Disc Medicine in the 2nd quarter valued at about $41,690,000. Finally, State Street Corp lifted its position in Disc Medicine by 39.7% in the 3rd quarter. State Street Corp now owns 827,910 shares of the company’s stock valued at $40,683,000 after acquiring an additional 235,115 shares in the last quarter. Institutional investors own 83.70% of the company’s stock.

Disc Medicine Company Profile

Disc Medicine, Inc, together with its subsidiaries, a clinical-stage biopharmaceutical company, engages in the discovery, development, and commercialization of novel treatments for patients suffering from serious hematologic diseases in the United States. The company has assembled a portfolio of clinical and preclinical product candidates that aim to modify fundamental biological pathways associated with the formation and function of red blood cells, primarily heme biosynthesis and iron homeostasis.